Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2018, its first year of operations:

January 2 Issues 100,000 shares of common stock for $21 per share.

February 6 Issues 1,600 shares of 7% preferred stock for $13 per share.

September 10 Repurchases 12,000 shares of its own common stock for $26 per share.

December 15 Reissues 6,000 shares of treasury stock at $31 per share.

Required:

Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2018, its first year of operations: January 2 Issues 100,000 shares of common stock for $21 per share. February 6 Issues 1,600 shares of 7% preferred stock for $13 per share. September 10 Repurchases 12,000 shares of its own common stock for $26 per share. December 15 Reissues 6,000 shares of treasury stock at $31 per share Required Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 Issues 100,000 shares of common stock for $21 per share Note: Enter debits before credits. Debit Credit Date General Journal January 02, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 3 4 Issues 1,600 shares of 7% preferred stock for $13 per share. Note: Enter debits before credits. Date General Journal Debit Credit February 06, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 3 4 Repurchases 12,000 shares of its own common stock for $26 per share. Note: Enter debits before credits. Date General Journal Debit Credit September 10, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 3 4 Reissues 6,000 shares of treasury stock at $31 per share. Note: Enter debits before credits. Date General Journal Debit Credit December 15, 2018 Record entry Clear entry View general journal